Standard Deduction For 2024 Taxes For Seniors. For single taxpayers and married individuals filing separately, the standard deduction rises to $14,600 for 2024, an increase of $750 from 2023; People 65 or older may be eligible for a higher amount.
Section 194p is applicable from 1st april 2021. For the 2024 tax year, the standard deduction will increase by.